Portfolio Partners founder heads off

The last remaining founder ofPortfolio Partners, David Slack, has left the company which he co-founded in 1994 with Keith Ince and a group of former County Natwest executives.

In 1998, Portfolio Partners was sold toNorwichand for a while Slack and Ince remained joint managing directors, but in January last year Ince left the company when former BT executive Craig Bingham came in as replacement joint managing director.

At that time Slack moved into the role of chief investment officer and then stepped out of that in August last year as Bingham then became sole head of the fund manager. Since August, Slack was appointed at Portfolio Partners as head of investment strategy, the role he kept till his retirement.

Bingham says Slack has played an important role in the development of the company during its eight-year history.

“David has been instrumental in building Portfolio Partners into a highly regarded Australian investment management company, and in managing its transition from a successful boutique fund manager to part of a global financial services group,” he says.

Portfolio Partners is active in both retail and wholesale funds management and has about $10 billion of funds under management, mainly in Australian equities, fixed interest and balanced funds.

Its Australian Equities Trust has achieved returns of 13.6 per cent in the 12 months ending December, according to the company, while the Portfolio Partners High Growth Shares Trust has returned 23.7 per cent over the same period.